A Non-Renounceable Rights Issue

A non-renounceable rights issue

A) means that shareholders who do not take up the right to purchase shares can not transfer the right to somebody else
B) means that directors can not make any announcement about the price being offered by the company that is attempting the takeover.
C) means that the right to purchase the shares can be sold to somebody else privately
D) means that the right to purchase the shares can be sold to somebody else but only in public via a stock exchange